Council Committees | Governance and Management

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GOVERNANCE AND MANAGEMENT
Governance Structures: Council Committees

All committees of Council function under a mandate of strategic or financial importance to the NWU. They are chaired by persons with the requisite knowledge, skills and experience, and operate under clear terms of reference.

Executive Committee

The Executive Committee deals with governance matters between Council meetings and reports on these matters at the next meeting. It also ensures that the Code of Conduct for Council members is upheld, and finalises matters referred to it by Council.

Audit, Risk and Compliance Committee

This Committee is accountable to Council for the performance of its duties, which are to safeguard the NWU’s assets, to maintain adequate accounting records, to develop and maintain an effective system of internal control, to oversee management’s role in creating and maintaining a proper risk management process, and to authorise the annual audit fee of the external auditors. The Committee provides a channel of communication between the Council, management, the internal audit function and the external auditors. It enjoys unrestricted communication with the Chairperson of Council (who is not a member of the Audit Committee), the Vice-Chancellor, the Executive Director: Finance and Facilities, and the internal and external auditors.

Finance Committee

The mandate of the Finance Committee is to advise Council on financial and investment matters and on long-term infrastructure development at the NWU. In fulfilling this role, the Committee is tasked with reinforcing Council’s governance function with regard to sound, responsible and effective financial planning, financial administration, financial governance and proper financial reporting.
To carry out its duties, the Finance Committee makes use of three subcommittees, namely the Tender Committee, the Investments Committee and the Assets Committee.

Tender Committee(subcommittee of the Finance Committee)

This Committee’s role is to approve the tender policies and procedures prepared by management, to check that these comply with the Broad-Based Black Economic Empowerment Act of 2003, to confirm that tender policies are being implemented, and to evaluate and approve tenders for contracts valued at between R2 million and R15 million. For contracts exceeding R15 million, the Committee evaluates the tenders received and makes a recommendation to Council.

Investments Committee(subcommittee of the Finance Committee)

The main task of this committee is to establish measures so that the NWU can earn the highest possible yield on investments, with appropriate risk exposure. Its duties are to appoint portfolio managers and evaluate investment policies, the investment performance of portfolio managers and the credit arrangements within which the money market manager can operate.

People and Culture and Employment Equity Committee (P&CEE)

The mandate of the Human Capital Development and Employment Equity Committee is to ensure that adequate human resource policies and strategies are in place and to monitor the implementation of these policies and strategies in accordance with the set criteria and measures. The committee is responsible for all human resources and employment equity-related aspects, including remuneration and service conditions matters that are not within the scope of the Remuneration Committee. The Committee, as governing body, receives and evaluates reports from management on specific human resources issues, including compliance with statutory requirements, and ensures that management is held accountable for the implementation of human resources-related strategy and policies.

Remuneration Committee

The primary role of the committee is to assist Council in carrying out its responsibilities regarding a fair and responsible remuneration philosophy and the implementation thereof as this is to become evident in remuneration policies and strategies.